Tom Steyer, the former hedge-fund executive and progressive activist, announced his candidacy for the 2020 Democratic presidential nomination on Tuesday, joining a crowded field.
“If you think that there is something absolutely critical, try as hard as you can and let the chips fall as they may. And that is exactly what I’m doing,” Steyer, 62, said in video declaring his bid.
In his announcement video, Steyer focused heavily on corporate greed and its undue influence on politicians in Washington. He stressed that big business’s avarice is the root cause of major issues such as climate change and the U.S. opioid crisis.
“Almost every single major intractable problem, at the back of it, you see a big money interest for whom stopping progress, stopping justice is really important to their bottom line,” he said.
Steyer made his fortune as the head of an investment firm and is worth roughly $1.6 billion, according to Forbes. He and his wife, Kathryn Taylor, are signatories to the Giving Pledge, a coalition of ultra-wealthy individuals that have promised to give away at least half of their wealth to charitable causes.
“We relish the opportunity to do our part and leave our collective campsite cleaner and better tended than we found it,” the couple wrote in their pledge.
In recent years, Steyer has championed several progessive causes, most notably combating the climate crisis, and has been heavily involved in California politics. He launched the liberal advocacy group NextGen Climate in 2013, which was later renamed to NextGen America following the election of President Trump.
Steyer has also been a leading voice in the impeachment movement against Trump. In 2017, he founded Need to Impeach, which lobbies members of Congress and has since gained over 8.2 million supporters.
“Through the important work of NextGen America and Need to Impeach, which I will continue to support, I've focused on registering & turning out the youth vote, and pressuring Congress to hold this president accountable by beginning impeachment proceedings,” Steyer added on Twitter. “But it's not enough.”
Tuesday’s announcement is a reversal for Steyer. He told The New York Times in January that was would not run for the White House and instead focus on doing “whatever it takes” to remove Trump from office.
Steyer’s entry into the crowded field comes just a day after California Rep. Eric Swalwell became the first candidate to bow out.
The U.S. cannabis industry is on track to hit almost $25 billion in sales, according to New Frontier Data. Vivien Azer, managing director and senior research analyst at Cowen, and Russell Stanley, managing director and equity research at Beacon Securities Limited, join Cheddar News to give their predictions for the budding industry in 2022.
Rep. Earl Blumenauer (D-Ore. 3rd District), the co-chair of the Congressional Cannabis Caucus, joined Cheddar's "Cannabiz" to discuss the state of marijuana legalization on the federal level as more states continue to greenlight medical and adult use. He stated that there couldn't be a better time to revise the old policies on marijuana with more than 90 percent of Americans, including a majority of Republicans, on board. "This tidal wave of support continues. There were five states that approved in the last general election, and I think, rather than one single event, it is this momentum and the demonstration of broad public support that is making the difference," Blumenauer said.
Megan Horneman, Director of Portfolio Strategy at Verdence Capital Advisors, joins Cheddar News' Closing Bell, where she says there is some profit-taking ahead of the upcoming Fed meeting, and elaborates on some of the topics investors will be watching for more closely this week.
Rachel Bachman, senior sports reporter at the Wall Street Journal, joins Cheddar News' Closing Bell, where she explains how U.S. athletes have been inserted into the middle of a political debate after the country declared a diplomatic boycott of the upcoming Olympic Games in Beijing.
Lance Ippolito, Head Trader at the Future Of Wealth, joins Cheddar News' Closing Bell where he discusses the factors that have contributed to the recent slide of major cryptocurrencies like Bitcoin and Ether.
President Biden spoke with Russian President Vladimir Putin for the fourth time this year. Biden and Putin spoke for two hours about the massing of Russian troops and materials near the Russian border with Ukraine. Various outlets have reported that the U.S. has intelligence that Russia could be planning an invasion of Ukraine in the next few months. Both countries said the call was productive, but the situation remains tense.
Hagar Chemali, foreign policy expert and host of "Oh My World!" on YouTube, joins Cheddar Politics to discuss.
A recent Wall Street Journal poll indicated that Hispanic voters are up for grabs for the upcoming midterm elections, with 41 percent of respondents saying they would vote for Democrats and 44 percent for Republicans. Bryanta "Bre" Maxwell, a Democratic Strategist, former political director for Jaime Harrison's senate campaign, and principal and CEO of Indigo Consulting, LLC, joined Cheddar to break down the numbers and to dive into what this specific electorate is looking for as the balance of power in Congress hangs in the balance in 2022.
